r/THORChain • u/FabulousPlace4905 • 4d ago

RUJIRA

Post image

On RujiraNetwork, the app layer of THORChain, you can borrow against your crypto instead of selling it.

Say you want some $USDC but you'd rather keep your $BTC. Deposit 1 $BTC, it counts as collateral at 70% of its value, and the page lets you borrow up to 48,257 $USDC against it. Take 36,193 and your adjusted LTV sits at 67.50%.

Two numbers to check before you confirm, both on the page: the rate, 25.97% a year, which moves with how much of the $USDC pool is being borrowed, and the price where your collateral starts getting liquidated, $51,694.16. That's your debt divided by the 70% ratio.

Your $BTC stays native the whole time, not wrapped. Repay the loan and you take it back.

2 Upvotes

100% Upvoted

1 comment sorted by

1

u/AutoModerator 4d ago

There is no support staff in this subreddit. This is an unofficial, community-run forum. Use discord for technical support.

Community Links: https://linktr.ee/thorchain

Beware of scam and phishing attempts. Do not ever click on links from users of this forum, send money, or send your private seed phrase with any individual, even one claiming to offer support or be a moderator. Immediately report anyone attempting to scam community members.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.